Taylor Wessing

 

Amendments to Part 7 of FSMA 2000 ('Control of Business Transfers')

 

On 30 June 2008, HM Treasury's latest amendments1  to Part 7 of the Financial Services and Markets Act 2000 ("FSMA") came into force.  What impact will these amendments have on insurers and reinsurers involved in the London market?

 

Copy of Bullet point - white space.gif What is Part 7 of FSMA?
Copy of Bullet point - white space.gif Why was there a need for amendment?
Copy of Bullet point - white space.gif What are the amendments?
Copy of Bullet point - white space.gif What are the implications of the amendments?

 

 

 

1  The statutory instruments bringing these amendments into effect are: (1) The Financial

   Services and Markets Act 2000 (Amendments to Part 7) Regulations 2008; (2) The

   Financial Services and Markets Act 2000 (Control of Business Transfers)

   (Requirements of Applicants) (Amendment) Regulations 2008; and (3) The Financial

   Services and Markets Act 2000 (Amendment of section 323) Regulations 2000.

 

 

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